Is Phoenix, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2022
Since last year, Phoenix has remained a Seller's Market.
Key Takeaway
Phoenix is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Phoenix, MD cost?
Median Sold Price
$692,488
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2022
Key Takeaway
The sold price of homes in Phoenix has remained the same since last year.
Summary: The median home sold price in Phoenix was $692,488 in September 2023, down 0.4% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2022 | Sep 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $645K | N/A |
| 3 Bedrooms | $427.2K | $495K | +15.9% |
| 4 Bedrooms | $647K | $689.9K | +6.6% |
| 5+ Bedrooms | $950K | $880K | -7.4% |
Summary: Phoenix housing prices by bedroom type for September 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 15.9%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes decreased by 7.4%.
Median Sold Price Compared To Nearby Cities
| Cockeysville | $375K | $449.9K | +20.0% |
| Baldwin | $588.2K | $661.7K | +12.5% |
| Phoenix | $695K | $692.4K | -0.4% |
Housing Supply
How many homes are available in Phoenix, MD?
Number of Homes For Sale
| Aug 2023 | Sep 2023 | CHANGE |
|---|---|---|
| 41 | 51 | +24.4% |
Summary: The Phoenix real estate market had 51 homes for sale in September 2023, a 24.4% increase compared to August 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Sep 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 9 | 12 | +33.3% |
| 4 Bedrooms | 17 | 21 | +23.5% |
| 5+ Bedrooms | 13 | 15 | +15.4% |
Summary: The Phoenix housing inventory by bedroom type for September 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
| Aug 2023 | Sep 2023 | CHANGE |
|---|---|---|
| 0 | 14 | +100.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Phoenix, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Phoenix in September 2023, up by 100.0% month-over-month. Of the 14 sold homes, 43% were sold under asking, 21% were sold at asking, and 36% were sold over asking.
Days on Market
How long does it take to sell a home in Phoenix, MD?
Average Sale Time
| Sep 2022 | Sep 2023 | CHANGE |
|---|---|---|
| 30 Days | 19 Days | -35.4% |
Summary: Homes in Phoenix had an average of 19 days on market in Sep 2023, down by 35.4% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Phoenix are selling fast, if you're buying plan to act quickly.
Summary: During September 2023, 14 homes were sold in Phoenix; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
